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But there is a decisive difference: whereas certain forms of capitalism produce and function with an extreme concentration of wealth and capital, democracies cannot coexist with a similar constellation and concentration of power. Finally, capitalism and democracy can support each other.
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Mar 11, 2020 · Democracy and capitalism coexist in many variations around the world, each continuously reshaped by the conditions and the people forming them. Increasingly, people have deep concerns about...
Capitalists have been the major backers of the most notoriously authoritarian regimes in history, including Hitler’s Reich, Franco’s Estado Nuovo and Mussolini’s Stato Totalitario. Capitalists are neither irreducibly hostile to, nor invariably supportive of, democracy.
Jul 10, 2021 · Global capitalism seems to be placing democracy, especially liberal democracy, under considerable stress. Support for populism has surged, especially for extreme right parties with populist and authoritarian programs.
How are we to understand the relationship between capitalism and democracy? This issue is on the public agenda again. “Is Capitalism a Threat to Democracy?” asks an article in The New Yorker. “Are Capitalism and Democracy Compatible?” asks the Huffington Post.
Instead, the dominant approach to the study of capitalism as an economic system builds on new institutional economics and is known as the ‘varieties of capitalism’ (or VoC) approach (Hall and Soskice 2001). Just as democracy has been shown to divide into institutional subspecies, so has capitalism.
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Sep 8, 2022 · In this chapter I review four ways of theorizing the relationship between capitalism and democracy. Classical liberalism has long maintained that capitalism and democracy are complementary—that both mutually reinforce the same demand for freedom or, at the very...